Johnson & Johnson is one of the most successful businesses in global history but its rise to preeminence resulted in an ugly family battle that left a wake of victims behind the misbehavior of two deeply flawed brothers.

On a recent late-night restocking run to the store, Aaron and I were walking down an aisle when we suddenly spotted something that, outside of a handful of enclaves, has been missing in action or relegated to back corners for decades: A product called Noxzema. For almost three-quarters of a century, the stuff was ubiquitous, found in nearly every home and an absolute must-have on any shopping trip taken by nearly any American family. The business story behind the Noxema fortune is a fascinating one.

I’ve been thinking about the story that has captivated the country over the past two days – how, if various news reports are to be believed, Dr. Walter J. Palmer of Eden Prairie, Minnesota, owner of a practice called River Bluff Dental in Bloomington, Minnesota, and two of his guides poached the beloved Cecil the Lion from a national park in Zimbabwe, luring him from the sanctuary where he was protected, injuring him with an arrow before tracking him for two days, shooting him, beheading him, skinning him, and leaving the body behind with plans to mount the trophy in his office.

It would be a serious mistake in judgment to think of Dolly Parton as merely a singer and actress. She is much more. Over the past 50 years, she has become one of the most adept investors in the world, with a portfolio of operating assets spanning everything from theme parks and hotels to media production…

Get ready to add yet another secret millionaire to your case study files. Ronald Read passed away last June at 92 years old. The Brattleboro, Vermont man, who had no college education and drove a Toyota Yaris, always made a point of living below his means. He spent many years working as a gas station attendant and…

When Aaron and I were at the World of Coca-Cola in Atlanta, we thought about buying our niece and nephews some gifts from the retail store but ultimately decided to give them something more valuable: Stock. We’ll make another transfer to the custodianships I setup last year, modeled partly after the one we established for…

Back when Dave Thomas left his discipleship of Colonel Sanders of Kentucky Fried Chicken fame to go off and start the hamburger chain that we now know as Wendy’s (which he named for his daughter, Melinda) one of my favorite things he did was find a way to reduce waste – and thus costs –…

As we approach the end of 2014, I’m looking back on the year. One of the major changes from an investing perspective what a modification Aaron and I made in the investment policy manual. That doesn’t happen often. We added a handful of companies to the list of permanent business; those companies we consider so…

Are you in the mood for a case study resource for your own investment policy manual? If so, brace yourself because this one is heartbreaking. You can learn a lot from it, and save your own family a great deal of tragedy, but it’s going to involve surveying the ruins of the lives of others…

It’s no secret that most wealth in the United States is so-called stealth wealth. We now live in a country where roughly 1 in 5 families earns six-figures a year or more, which most people wouldn’t believe, and for those who put aside money, something like 80%+ of millionaires hide their net worth from friends and…

IMPORTANT LEGAL INFORMATION: This is a personal blog intended for academic, educational, and social engagement among members of a like-minded community. Nothing on this site is intended or should be construed as investment advice, financial advice, tax advice, or legal advice. You are solely responsible for your own financial decisions, agree that you will seek the advice of your own qualified professional advisors, agree that you, and you alone, are solely responsible for any financial consequences or losses as a result of your actions, and use of the site constitutes your agreement that you will not rely upon any information found on the site, including the comments. All text, images, and resources are provided on an “as is” basis with no guarantee of accuracy and with no obligation to update or correct information. For more information, read the terms and conditions. Copyright Joshua Kennon. All Rights Reserved.